Don't waste your money!
How to not waste your money
Do you feel that all your money goes to waste? Well, try to follow some of
these ideas to waste less of your money.
Here is a list of things you should NOT DO with your money:
Do NOT buy a car off the lot.
Buying a car off the lot is the most expensive way to
buy a car, because you are paying the salesman and
all of the other overhead. Always negotiate and buy a
car online. This is How to buy a car online.
DO NOT assume the price tag is the final price.
ALWAYS negotiate in stores. Garage sales are not the only
place you can negotiate. If you go into a furniture store
or other specialty store where you plan to spend hundreds of
dollars, ALWAYS ask for 10-20 percent discount. The sales
manager is not going to let you just walk out of there
if you were planning on spending a lot of money. It works!
Try it! Do NOT pay full price for high-ticket items.
DO NOT hire a tax accountant to file your 1040.
If you have average income and average intelligence, with a
regular W-2 and no special circumstances, then there is no
reason to pay a tax accountant. An inexpensive, easy to use
tax software package can easily do the job.
DO NOT pay for long distance.
If you still have a landline, do not waste the extra money
on long distance. There are a lot of free alternatives
out there like Google Voice. Furthermore, your cell phone
probably has unlimited long distance.
DO NOT shop at the mall.
Always shop online instead of at the mall.
Do you know how much the stores pay for rent at those
big malls? Do you know who indirectly pays that rent? You
are correct - you and the other shoppers going there pay it.
Most items are available online now. Shop online instead
of going to the mall. We found Amazon to be a great place
for great prices.
DO NOT buy Kids Life Insurance.
Why on earth would you need life insurance on your kids? They do not
produce revenue and to be brutally honest, you would actually have
fewer expenses if the worst-case scenario happened with your child.
Furthermore, to receive money because something happened to your child
just feels VERY wrong. Your kid's loss should not be your gain.
DO NOT play the lottery.
It seems the less people make, the more people spend on the lottery.
The odds of winning are ridiculously low and you are just wasting
the little money you have if you play lottery. If this concept
is lost on you, probably all the other items on this page are lost too.
Go here to Generate Lottery Numbers.
DO NOT get a Payday loan.
Payday loans are legalized shark loans. The interest rate is super high
and you are just postponing your financial troubles. In fact, you are
making your financial troubles worse! Live within your means and do not
take out loans for spending.
DO NOT buy Insurance for small items.
The math on insurance for small items, such as cell phones, just does
not add up. Usually, you pay a huge monthly percentage, the
deducible is huge, and all this while your item is depreciating in
value and becoming less important to you. What a waste! Just
deal with small losses by paying for them instead of paying tons
of not-so-little insurance.
See our article on iPhone Insurance
DO NOT rent.
People rent everything from furniture to apartments. With today's
low mortgage rate, the math is almost always in favor of buying
instead of renting. Before looking into any rental agreement, compare
it with what it would cost to buy. Check out our Mortgage Calculator.
DO NOT keep a credit card balance.
Credit card interest is very high and paying interest on a credit card
balance is a waste of money. The easiest way to do this is to NOT charge
your credit card if you don't have the money to pay it off in full. Live
within your means.
DO NOT Buy extended warranty.
The factory warranty is sufficient in most cases. By the time the factory
warranty expires, you probably don't even need the item. If you were
to buy the extended warranty on everything you buy at appliance stores,
computer stores, TV stores etc., it would amount to a small fortune.
Chances are, very few would ever be needed. Instead of buying all
theses extended warranties, just put the money in a savings account for
a rainy day when one of these items may fail.
After reading this, did you get the point? Live within your means,
don't spend money when you don't have to, don't spend money to get
money, keep a rainy day fund instead of paying ridiculous insurances
and warranties, negotiate, own instead of renting and research alternatives
before you buy. It is that easy!